Scrapping stamp duty may sound like a quick fix to Britain’s housing crisis, but there’s reason to believe it would barely move the needle on affordability – while costing the Treasury billions.
At the Conservative party conference, leader Kemi Badenoch announced that a future Tory government would abolish stamp duty for people buying their main home. Badenoch called stamp duty “tax on aspiration” that traps families and holds back social mobility.
